Financial

In South Africa, MVNO Tackles Mobile Operators Introducing Non-Expiry Data, Voice Plan

While the Nigerian telecoms industry awaits take-off playing by the Mobile Virtual Network Operators (MVNO), in South Africa a recently licensed MVNO,  C-Connect, is looking to shake-up the market with cost-effective offerings by introducing non-expiring data and voice plans.. During the launch in Johannesburg yesterday, the company said it aims to differentiate itself from competitors […]

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Financial

Phishing, Business Email compromise Plundering Nigerian Firms of Billionaires 

As cyber criminals increasingly target Africa, Nigerian businesses are experiencing major phishing attempts, in various forms, as well as business email compromise. This came up during a recent webinar hosted by Rubrik, in cooperation with ITWeb Africa, for Nigerian IT and security decision-makers. The webinar covered the findings of new research from Rubrik Zero Labs, ‘The state of […]

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Business

Meta Plans Spending $99bn of Money Made from Your Activities on All Platforms Year End

The social media giant Meta Platforms plans to spend between $96 billion to $99 billion from the money it will make from your activities in all its platform: Facebook, Instagram, Threads and WhatsApp, among other products and services. As at June 30 of 2024, the already made $39 billion. “We expect full-year 2024 total expenses […]

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Financial

Seplat Energy Records Impressive Performance in 3Q 2024 with PBT Hitting N244bn from N43.5bn

Seplat Energy PLC, Nigeria’s independent energy company was able to outrun its previous profit before tax (PBT) to N43.5 billion as its latest financial statement for the six months ended 30 June 2024 revealed a PBT of N244 billion Its unaudited results for the for the six months ended 30 June 2024, declaring US 6 […]

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Financial

JUST IN: Fuel Crisis Cripple Q4 Earnings, Profit Fell by  $1.1m After Naira Devaluation, Says Airtel Africa CEO

The substantial increase in fuel prices and the lower contribution of Nigeria to the Group after the naira devaluation contributed to a decline in EBITDA margins to 45.3% from 49.5% in Q1’24 and 46.5% in Q4’24. Latest report released today revealed constant currency EBITDA increased 11.3% whilst reported currency EBITDA declined by 23.3% to $523 […]

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News

TARIFF HIKE IMPACT: MultiChoice Records $38m, Sharp Subscribers Drop Ahead of  CanalPlus Acquisition

South Africa’s TV MultiChoice posted a pretax loss of   $38 million for the year ending in March, the company said Wednesday citing weak local currencies and a drop in subscribers. The company is the subject of a takeover bid by France’s Canal+, which already holds more than 35 percent of MultiChoice’s shares. “Volatile and weaker […]

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Financial

Nigeria’s Debt Servicing Gulps $2.2bn in Five Months, Plans More World Bank Loans, Says CBN

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said that Nigeria will be getting some funds from the World Bank in a few weeks. The latest data from the Central Bank of Nigeria has revealed that the federal government spent about $2.2 billion on debt servicing in the first five months of […]

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News

NNPCL Denies Inflating Petrol Subsidy by N3.3trl Under Ex-President Buhari

The Nigerian National Petroleum Company Limited has denied reports, that it inflated the subsidy on Premium Motor Spirit by N3.3tn during the administration of former President Muhammadu Buhari. A statement by its spokesperson, Olufemi Soneye, on Monday, argued that its subsidy claims were verifiable, stressing that all relevant records on subsidy had been sent to […]

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Financial

Dangote Unveils $100m CDK Truck Plant of 10,000 Annual Capacity as  Lagos Places 100 Pieces Order for LAWMA

The multi-million dollar world-class Dangote Sinotruk West Africa Ltd CKD Plant established by the business mogul, Aliko Dangote was has been unveiled with a call on other eminent Nigerians to emulate Mr Aliko Dangote in using their wealth to benefit the nation. At the unveiling, the Governor of Lagos State, Babajide Sanwo-Olu,  announced his administration’s […]

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Business

JUST IN: Airtel Africa Invests $1.2m in Training & Devt, Connects 1,200 Schools in UNICEF Partnership

The  advancing digital learning project of  Airtel Africa, which cuts across Africa in  five-year plan gupls $57m partnership with UNICEF, and connects almost 1,200 schools to the internet and providing free access to online educational platforms to thousands of students. The Airtel Africa,  2024 Sustainability Report which was released today showed much the provider of […]

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